Citing “widespread mismanagement of auto loans, mortgages, and deposit accounts,” the federal consumer financial protection agency ordered $3.7 billion to be paid in fines and redress by one of the nation’s largest banks, the agency […]
The two insured-credit-union failures that occurred from April through September 2022 cost the credit union share insurance fund an estimated $6.7 million, according to the National Credit Union Administration’s (NCUA) Office of Inspector General’s (OIG) […]
Credit market risks have remained low in sectors targeted by lending programs set up by the Federal Reserve in response to the coronavirus crisis, although some risks remain, and the loans themselves have generally performed […]
Shortcomings in resolution plans (or “living wills”) for two very large banks were identified by two federal bank regulators, with the agencies calling on the banks to take actions (in one case by May 31, […]
Assets of less than $1.053 billion would define the size of a “small bank” under anti-redlining rules for 2023, and assets of at least $376 million would define an “intermediate small bank” under those rules, […]
Identifying benchmark rates based on the Secured Overnight Financing Rate (SOFR) that will replace LIBOR (formerly known as the London Interbank Offered Rate) in certain financial contracts after June 30, 2023 is the aim of […]
Addressing risks of nonbank financial intermediation and enforcing existing rules and regulations applicable to the “crypto-asset ecosystem” were among the recommendations made by the council of federal financial regulators in their annual report, issued Friday. […]
Of the first-lien residential mortgages included in the Office of the Comptroller of the Currency’s (OCC) quarterly mortgage performance report, 97.2% of them were current and performing at the end of the third quarter, up […]
Revisions to interagency examination procedures for the Fair Debt Collection Practices Act (FDCPA) and its implementing regulation (Regulation F) were released jointly Thursday by federal banking regulators under the umbrella Federal Financial Institutions Examination Council […]
An additional month was added Thursday to the comment period on an advance notice of proposed rulemaking focused on the orderly resolution of large banks, issued jointly in October by the Federal Reserve and Federal […]
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